Question:
Let an inverse demand function for a commodity be $π = e^{\frac{-x}{2}$, where π₯ is the quantity and π is the price. Then, at π = 0.5, the consumer surplus is equal to _______ (rounded off to two decimal places).
Let an inverse demand function for a commodity be $π = e^{\frac{-x}{2}$, where π₯ is the quantity and π is the price. Then, at π = 0.5, the consumer surplus is equal to _______ (rounded off to two decimal places).
Updated On: Oct 1, 2024
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Correct Answer: 0.3
Solution and Explanation
The correct answer is :0.30
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